Due to a court ruling in the American state of New York, former President Trump is currently faced with the challenge of raising almost half a billion dollars. But so far the ex-president has failed to raise the money. There is a risk that his property will be seized.
The New York Attorney General’s office is moving forward with the possible forfeiture of former President Donald Trump’s property. In Westchester County – north of New York – she filed a lawsuit against Trump.
Further legal action will follow
Westchester County is home to both a golf course and Trump real estate. Filing the judgment marks the first step a creditor takes to obtain the defendant’s property. Further actions such as placing liens on assets, foreclosing on real estate or other legal action would follow to seize the assets.
A similar move was also made in New York City, where Trump owns other properties such as Trump Tower. However, the Public Prosecution Service has not yet taken any action to seize the ex-president’s properties in Chicago or Florida. His properties in the south include Mar-a-Lago in Palm Beach.
Trump cannot afford millions in guarantees
The possible seizure of his real estate assets is the result of a court decision in a civil fraud case in New York. According to the ruling, he must pay a bail of $ 454 million. Trump described the verdict as “rigged” and spoke of an alleged conspiracy to sabotage his election campaign.
Deadline is March 25
According to his lawyers, Trump cannot raise the necessary amount himself, and so far no bail bond company has agreed to provide the money. The deadline for providing security ends on March 25. After that, the process of seizing Trump’s assets could begin.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
